(PharmaNewsWire.Com, March 18, 2021 ) This report aims to provide detailed insights into the global enteral feeding devices market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.
Key Factors Driving Market Growth:
The increasing as rising healthcare costs; surge in the number of preterm births; growth in the aging population; rising prevalence of chronic diseases such as diabetes, cancer, gastrointestinal diseases, and neurological disorders; growing awareness of enteral nutrition; and rapid improvements in healthcare facilities in emerging countries are expected to further drive the enteral feeding devices market during the forecast period. Moreover, the shift from parenteral nutrition to enteral nutrition and growing adoption of and demand for enteral feeding tubes in home and ambulatory care settings are also expected to drive the market in the coming years.
Revenue Growth Analysis:
The Enteral Feeding Devices Market is projected to reach $4.4 billion by 2025 from $3.2 billion in 2020, at a CAGR of 6.8% during the forecast period.
Covid-19 Impact on Enteral Feeding Devices Market:
Due to the COVID-19 outbreak, we are estimating that the major share of the medical devices industry that includes imaging devices, dental care devices, surgical products, and medical supplies among others, which contribute 60-75% of the overall medical devices market will have a stagnant or deep fall in the growth rate in 2020 and couple of quartered from 2021. A new, USD 5-7 billion market opportunity (by 2021) is opening up in the medical devices industry that includes critical care medical devices.
On the other hand, products such as enteral feeding devices, do not show a major revenue shift in 2020 and 2021, as compared to other medical devices such as devices used in the ICUs, CCUs, and emergency department of the hospitals. However, there is an increase in the market for enteral feeding devices with the growing need for nutrition management in COVID susceptible patients. Apart from this, the increasing demand for enteral feeding tubes in the home care sector, along with the shift from parenteral to enteral feeding is aiding market growth during this period.
Browse in-depth TOC on "Enteral Feeding Devices Market"
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Enteral Feeding Tubes Segment:
The enteral feeding tubes segment accounted for the largest share of the enteral feeding devices market. The rising adoption of enteral feeding has resulted in an increase in the demand and uptake of enteral feeding tubes across the globe. These device modifications include the use of bright orange or purple tubing (solid and striped), "enteral-only" labels, and manufacturer-specific enteral-only or non-IV compatible connectors. Moreover, the Global Enteral Device Supplier Association (GEDSA), an international working group of enteral feeding tube manufacturers, distributors, and suppliers, has introduced new enteral connectors (ENFit) that conform to the new ISO standards. This universal connector design has been introduced to improve patient safety and reduce the incidence of medical device tubing misconnections.
Oncology Segment:
The oncology segment accounted for the largest share of the enteral feeding market. The oncology segment will continue to dominate the market by 2025, growing at highest CAGR during the forecast period. The increase in the prevalence of various types of cancers—especially head and neck cancers, cancers of the gastrointestinal system, lung cancer, and liver cancer—is expected to play a major role in the higher adoption of enteral feeding devices used to provide clinical nutrition to cancer patients.
APAC Region to Dominate The Enteral Feeding Tubes Market:
Asia Pacific is estimated to be the fastest-growing regional market. Factors such as the increasing number of preterm births, rising geriatric population, growing awareness of enteral nutrition, and the rapid development of healthcare facilities in several APAC countries are driving the growth of this market. Key players have shifted their focus to emerging economies in these regions,and are focusing on expansions and acquisitions to garner a greater enteral feeding tubes market share in the coming years.
Key Players in Enteral Feeding Tubes Market:
The prominent players in Enteral Feeding Devices Market are Fresenius Kabi AG (Germany), Avanos Medical, Inc. (US), Cardinal Health, Inc. (US), B. Braun Melsungen AG (Germany), Abbott Laboratories (US), Becton, Dickinson and Company (US), Boston Scientific Corporation (US), Cook Medical, Inc. (US), CONMED Corporation (CONMED) (US), Nestlé S.A. (Switzerland), Danone (France), Moog, Inc. (US), Vygon (France), Amsino International (US), and Applied Medical Technology, Inc. (US).
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